Arizona and coach Tommy Lloyd have agreed to a five-year contract extension that will keep him in Tucson, Arizona through the 2028-29 season, the school announced Monday. Lloyd's salary will increase to $5.25 million next season, making him one of the highest-paid coaches in the sport ahead of Arizona's transition to the Big 12 this summer. Lloyd's contract escalates up to $6 million in the final year of the deal.

"I am humbled and grateful to finalize a long-term extension here at the University of Arizona. I am energized by the support of our fans, our players, our alumni, President Robbins, the board of regents and our donors," Lloyd said in a statement released by the school. "All of us are aligned on maintaining a highly competitive and nationally recognized basketball program that provides a great experience for the student-athletes. We will continue to honor the Wildcat basketball heritage and give everything we have to make people proud to say 'Bear Down!'"

Lloyd's contract salary will be fully paid by donor funds, according to a statement from the university. He has compiled an 81-16 overall record (43-11 in Pac-12 play) at Arizona. Under his watch, the Wildcats have won the last two Pac-12 Tournament titles. The longtime Gonzaga assistant received his first contract extension after guiding Arizona to a 33-4 record and a berth in the Sweet 16 in 2021-22.

Lloyd saw his base salary increase from $1.9 million to $2.9 million last season after the new deal kicked in. The first extension — another five-year deal — had Lloyd under contract until at least 2027.

Lloyd's contract extension was the second big announcement from Arizona on Monday. The school also hired Missouri's Desireé Reed-Francois as its next athletic director. Reed-Francois, who was the first female to serve as an athletic director at a public institution in the SEC, just wrapped up her third season with the Tigers. She'll also be the first female full-time athletic director in Arizona's history. She'll begin her tenure as Wildcats athletic director on March 3.